How to interpret a County Report

[Michael Clayborne]

Hello BP!

I am currently working on improving my ability to analyze prospective deals. I've been through the Ultimate Beginners Guide here on BP and it explained a lot! Also reading through the forums and blogs has provided me with a greater ability to find information and formulate actual data vs. pro formula found on Zillow and Realtor.com. 

But I am having trouble interpreting the property taxes from the County Records Cards provided for properties, mainly property tax assessments and assessment percentage. 

Is this property tax (Taxable) reported as a yearly amount? And do I just take that amount and divide by 12 to get the monthly amount? 

What is gross and net assessed value, and how do they compare to taxable and market valuations?

Also how normal is it for the Market valuation on the county's books to be out of date?

Thank you for all your time and assistance in helping a newbie off the ground!

Best,

Michael